Ministry has achieved 70% of RUMAWIP target

KUALA LUMPUR (May 16): Some 70% of the 80,000 units of Rumah Mampu Milik Wilayah Persekutuan, or RUMAWIP, targeted to be built in the Federal Territories (FT) have been or are being developed as of May 2017.

According to FT Minister Datuk Seri Tengku Adnan Tengku Mansor, 70% or 55,694 units of the RUMAWIP affordable homes have been handed over, or are under construction or have obtained development order (DO).

The scheme was introduced in 2013.

“We are working with other agencies under the ministry to speed up projects that are still under construction or have obtained their DOs so that construction can be quicker and more units can be handed over to homebuyers as soon as possible,” he said during the groundbreaking ceremony and balloting session for Residensi Enesta Kepong homebuyers this morning.

Residensi Enesta Kepong is a RUMAWIP project jointly developed by Thriven Global Bhd and Amona Group. It comprises 254 units with unit built-up size of 803 sq ft. Each three-bedroom unit is priced at about RM300,000 and will be housed within a single 42-storey block.

“The best part of the project is that the developer is offering condominium-standard facilities such as swimming pool, multipurpose court, children’s playground, gymnasium and other facilities.

“The project is located strategically with amenities nearby such as schools, shopping complexes, banks and health clinics. It is very suitable for young professionals or young families,” said Tengku Adnan.

Upon its completion in May 2020, Residensi Enesta Kepong will be accessible via Jalan Kuching, Jalan Ipoh, Jalan Kepong, Duta-Ulu Kelang Expressway (DUKE) and the Middle Ring Road 2. It is also located opposite the proposed Mass Rapid Transit Line 2’s Jinjang Station that will be completed in 2022.

Half of the units in this project have been allocated to bumiputera and Malaysian Indian homebuyers.

“If these units are left unsold, we will then have to put them up for sale for Chinese buyers. So I hope that more bumiputera and Indian homebuyers will take part and register for this project,” he said. Buyers only need to pay RM5,000 as deposit during the signing of the Sale and Purchase Agreement while the remaining RM25,000 can be paid over a 24-month period without interest.

On the Ministry’s and Kuala Lumour City Hall’s transit home project known as Council Homes in Sungai Udang, Tengku Adnan said the response has been overhelming. The Council Homes in Sungai Udang enables eligible individuals to rent a unit for only RM800, whereby RM500 will be for rental and RM300 is forced savings.

“They will be able to reside in the unit for five years and then the forced savings will be returned to them. We will then arrange for them to purchase a unit of RUMAWIP,” he explained.

More Council Homes will be built in Sungai Besi and Lembah Pantai. The rental for the two-bedroom units will be priced about RM600, of which RM300 will be forced savings,” he said, adding that such homes may be built in Wangsa Maju and Bandar Tun Razak as well.

On the gazetting of the KL City Draft Plan 2020, Tengku Adnan confirmed that the Ministry is looking to gazette the plan selectively.

“We are looking at some areas and some precincts that I will allow it to be gazetted, especially green and recreational areas. We are looking at the needs of the population,” he said.

Pantai Sentral Park’s first commercial development to be launched by end-2016

KUALA LUMPUR (May 17): IJM Land Bhd will be unveiling its first commercial development in Pantai Sentral Park in Bukit Kerinchi, Kuala Lumpur, which carries a gross development value (GDV) of about RM500 million by the end of this year, said IJM Land Bhd central region senior general manager Hoo Kim See.

“It will comprise a 30-storey office, IJM Tower, and a 36-storey serviced apartment. We are still working on the design and number of units,” he told TheEdgeProperty.com during an interview.

He noted that the office tower which is situated at parcel 13 in Pantai Sentral Park will also be IJM’s future corporate office.

“Besides offices, the 30-storey IJM Tower will also comprise retail components which will be owned by the group. The planned retail and F&B outlets will cater for the needs of the working population as well as the residents in the future,” he added.

Hoo noted that unlike the residential components launched in the last two years, the upcoming serviced apartment will cater for younger people in the workforce or young couples who want to stay in a smaller unit in a commercial zone.

He said the built-up sizes of the 1-bedroom serviced apartments range from 600 sq ft to 1,000 sq ft and is expected to be completed in 2019.

However, he declined to disclose the estimated selling price for them.

Other than the upcoming commercial development, IJM Land is now planning for affordable homes in Pantai Sentral Park which are expected to be unveiled next year.

“Initially, we planned to launch 432 units of affordable homes, but now we have increased the number to 700 or 800 units. We are now working on the design and price,” he said.

He said the developer plans to allocate about five to eight acres of land for the affordable homes which will have a built-up of 850 sq ft and consist of three bedrooms and two bathrooms.

IJM Land, the property development arm of IJM Corp Bhd, is jointly developing the 58-acre Pantai Sentral Park which has a GDV of RM2.5 billion with landowner Amona Development Sdn Bhd.

The leasehold development is divided into 13 phases, out of which seven will be residential and six commercial.

IJM Land launched the first two residential phases – Inwood Residences and Secoya Residences – in 2014 and 2015, respectively, and they are slated to be completed by 2018.

Currently, the 38-storey Inwood Residences has achieved a take-up rate of 80% and construction has reached level six. There are 211 units of condos, with sizes ranging from 1,125 sq ft to 1,965 sq ft.

Meanwhile, half of the 243 units at Secoya Residences have been taken up. The units in the 41-storey development range between 1,050 sq ft and 1,670 sq ft.

On the capital appreciation, Hoo said the average selling price of the residential development has increased at a steady pace thanks to its strategic location, amenities, environment and accessibility to Kuala Lumpur city as well as Petaling Jaya and other areas.

“For instance, Inwood Residences’ selling price which averaged RM680 psf during the launching period is now selling for RM750 to RM780 psf. Secoya Residences which was launched one year later after Inwood Residences is selling at RM780 to RM800 psf,” he said.